Incorporated in 2002, Wealth First Portfolio Managers Ltd (WFPML) has established itself as a prominent player in India's financial services sector, specifically in wealth management. It is a client-centric, product-agnostic, and independent wealth management firm that provides comprehensive financial solutions to its diverse clientele. As an individual financial advisor (with no sub-brokers), WFPML holds the 37th rank at an all-India level, demonstrating its significant presence in the Indian wealth management landscape.
The company made history as the first IFA in India to list its practice on a stock exchange (NSE) on March 30, 2016. In March 2016, the company raised ₹8.4 Crore through an IPO of 1,680,000 equity shares. With 30 years of experience in the wealth management industry, WFPML brings substantial expertise to its operations.
Wealth First Portfolio Managers Limited operates across multiple financial service segments, providing a wide array of solutions. The company offers share and stock broking services in India, engages in the distribution of mutual funds, trades in government securities, and provides demat, portfolio management, and depository participant services.
Its comprehensive service portfolio includes:
- Investment Products: Fixed deposits, treasury and direct bonds, taxable and tax-free bonds, direct equities, PMS, and pension products.
- Advisory Services: Investment strategizing, asset research, asset allocation, trade-execution-broking, tax and retirement planning, treasury management, portfolio review and accounting, inheritance planning, and risk management services.
The firm has shown a particular focus on expanding its high-net-worth individual (HNI) client base, with the company increasing its HNI client base, including Super and Ultra HNIs, by 33%.
Wealth First Portfolio Managers Ltd maintains a strong market position within the Indian wealth management sector. As of recent data, the company has a market capitalization of ₹1,220 Crore, showing a significant increase of 39.1% in one year. Other sources report a market capitalization of ₹1,336 Cr as on June 27, 2025. The company also boasts a strong promoter holding of 74.0%, indicating substantial management confidence in the business.
The company has demonstrated impressive growth metrics over the years, with a robust profit growth of 93.4% CAGR over the last 5 years. Additionally, the company has a good return on equity (ROE) track record, with a 3-year ROE of 31.3%, showcasing efficient capital utilization.
The company's recent financial performance has shown remarkable growth, particularly in the latest quarter.
- Q4 FY25 Performance:
- Total Income: ₹20.51 crores, a significant increase from ₹17.22 crores in Q3 FY25 (QoQ growth of 19.1%) and ₹4.60 crores in Q4 FY24 (YoY surge of 345.9%).
- Profit After Tax: ₹13.87 crores, compared to ₹9.27 crores in Q3 FY25 (QoQ growth of 49.6%) and ₹1.28 crores in Q4 FY24 (YoY increase of 983.6%).
- Earnings Per Share (EPS): ₹13.00, significantly higher than ₹8.70 in Q3 FY25 (QoQ growth of 49.4%) and ₹1.20 in Q4 FY24 (YoY increase of 983.3%).
The company's financial strength is evident from several key metrics:
- Revenue: ₹52.0 Cr (latest available data)
- Profit: ₹33.7 Cr (latest available data)
- Book Value: ₹120 per share
- Dividend Yield: 1.06%
- Return on Capital Employed (ROCE): 37.5%
- Return on Equity (ROE): 28.5%
- Face Value: ₹10.0 per share
- Profit Growth (5-Years CAGR): 93.4%
- 3-Years ROE: 31.3%
Wealth First Portfolio Managers Limited is led by Managing Director Ashish Navnitlal Shah, who has been instrumental in steering the company's growth trajectory. The company maintains a clean corporate governance structure with no promoter pledging. Transparency in operations is evident, and the company has been maintaining a healthy dividend payout of 30.6%.
The company has actively rewarded shareholders through consistent dividend declarations:
- Second Interim Dividend: On January 27, 2024, the Board of Directors recommended a second interim dividend of ₹4 per share (40%), subject to shareholder approval.
- First Interim Dividend: On October 14, 2024, the Board of Directors recommended a first interim dividend of ₹8 per equity share (80%), subject to shareholder approval.
In terms of corporate expansion, the company incorporated a wholly-owned subsidiary, Lakshya Trustee Pvt Ltd, with ₹10 lakh capital in June 2025, indicating strategic growth plans.
Wealth First Portfolio Managers Limited is almost debt-free, providing financial stability and flexibility for future growth. The company maintains a strong focus on investor education and market expansion, having conducted Investor Awareness Programs (IAPs) at 32 locations, covering over 3,000 people.
Through its client-centric approach, comprehensive service offerings, and strong financial performance, Wealth First Portfolio Managers Limited continues to strengthen its position in the Indian wealth management sector. The company's listing on NSE provides transparency and liquidity to investors while maintaining its core focus on delivering superior wealth management solutions to its growing clientele.
